tony and sally are partners with initial investment of $120,000 and $80,000 respectively. They share income and loss by 60% for tony and 40% for sally. They accepted William as a new partner in the partnership. Required: Record the admission of William under each of the following separate assumptions: 1- William purchased one-half of tony's interest for $70,000 cash. 2-William invests cash of $80,000 in the partnership and receives 25% ownership interest in the new partnership. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM; DO NOT USE "." BETWEEN NUMBERS: Dr. Cash 100000 Cr. Land 100000